Europe is going into a depression, and this time it's for real, just like in 2008.
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| Chart 1: Europe PMI and GDP |
dinsdag 24 april 2012
Europe is in Recession
If you haven't noticed yet, Europe is now again contracting. GDP has been negative since 2012 (Chart 1). And the PMI is also contracting, which means the negative GDP will become even more negative going forward.
Meanwhile, nothing problematic has been reported in the United States. The PMI there is still above 50 (53.4). US GDP is still projected to grow in the future. But I suspect that America won't be immune to the European collapse.
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And now the UK itself also looks like we are tipping into a recession as well. The US is still growing, albeit at lower rates then are usual for a recovery at this point. Once again, the world will be hoping that China saves the day.
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